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SanlamAllianz Life Insurance Nigeria Limited has launched Esusu, an innovative savings initiative designed to encourage a consistent savings culture, promote financial discipline and help Nigerians take practical steps towards achieving their financial goals.
Inspired by the traditional Nigerian Esusu savings system, the initiative combines the familiarity of regular savings practices with the added benefits of a structured insurance-backed savings arrangement. It provides individuals with an opportunity to build their savings through flexible daily contributions, with the option to make additional contributions as their financial capacity allows.
Through Esusu, customers can make regular contributions towards their savings goals and receive a maturity benefit based on their accumulated contributions, less applicable withdrawals, in line with the policy terms and conditions. The initiative also incorporates death cover, providing an additional layer of financial protection for beneficiaries in the event of an unfortunate occurrence, subject to applicable policy provisions.
Speaking at the launch, Tunde Mimiko, Managing Director/Chief Executive Officer, SanlamAllianz Life Insurance Limited, said: “At SanlamAllianz, we recognise that achieving financial confidence begins with the right financial habits. Saving should not be an overwhelming responsibility; it should be a consistent practice that individuals can incorporate into their everyday lives. With Esusu, we are bringing a familiar savings culture into a structured financial solution that encourages consistency while providing additional protection. Our goal is to empower more Nigerians to take charge of their financial future, one contribution at a time.”
The initiative reflects SanlamAllianz’s commitment to developing customer-focused solutions that respond to the evolving financial needs of Nigerians. By encouraging small, consistent contributions, Esusu seeks to demonstrate that building financial security does not necessarily require having large sums of money available at once. The product is available to eligible individuals between the ages of 18 and 80, subject to the applicable policy requirements and conditions.
Shedding more light on the product, Chris Ekwonwa, Group Head, Strategy, Marketing and Customer Relations, SanlamAllianz Nigeria, said: “Beyond providing a savings opportunity, Esusu reinforces the importance of financial literacy and long-term planning. It encourages individuals to become more intentional about managing their finances, preparing for future responsibilities and building a stronger financial foundation using a financial instrument they are very familiar with. With the campaign message “Esusu – Savings Wey Confam!”, SanlamAllianz is taking a relatable approach to financial empowerment, connecting with Nigerians through a savings concept deeply rooted in local culture while providing the structure and additional protection of an insurance solution.”
Industry watchers have long called for a retail driven product for the underserved markets, the launch of SanlamAllianz Esusu clearly is a stab at that target audience and expectations are rife as to the potential impact of the product.
SanlamAllianz Nigeria is no stranger to taking bold initiatives in the market space. With its first-of-its-kind SanlamAllianz Campus Takeover with Ayo Maff kicking off this weekend at the iconic OAU Amphitheatre at Ife, there are progressive signs that the brand is not paying lip service to its oft-stated quest to drive insurance penetration and financial inclusion in the Nigerian insurance market.
ABOUT SANLAMALLIANZ
SanlamAllianz is a Pan-African financial services joint venture between Sanlam, Africa’s largest non-banking financial services group, and Allianz, a global financial services and insurance leader.
In Nigeria, SanlamAllianz operates through its Life and General Insurance businesses, providing a range of insurance and financial solutions designed to protect individuals, families and businesses while supporting their financial aspirations.
The post SanlamAllianz Launches Esusu to Promote Savings Culture Among Nigerians appeared first on Business Today NG.
The Nigeria Data Protection Commission (NDPC) has raised concerns over the relatively low level of compliance with the Nigeria Data Protection Act, 2023, across Federal Government Ministries, Departments and Agencies (MDAs), despite a presidential directive requiring public institutions to implement the legislation.
Dr Vincent Olatunji, National Commissioner and Chief Executive Officer of the NDPC, disclosed this during a courtesy visit to Olumuyiwa Enitan Abel, Head of the Civil Service of the Federation, where discussions focused on strengthening data protection and privacy practices across the federal civil service.
Olatunji said in a statement issued by the agency, and seen by Technology Times that President Bola Ahmed Tinubu had directed all MDAs to comply with the Nigeria Data Protection Act during the 2025 International Civil Service Week. However, the commission’s assessment showed that implementation of the directive across government institutions remained a challenge.
Olatunji said in a statement issued by the agency, and seen by Technology Times that President Bola Ahmed Tinubu had directed all MDAs to comply with the Nigeria Data Protection Act during the 2025 International Civil Service Week. However, the commission’s assessment showed that implementation of the directive across government institutions remained a challenge.
Data protection: NDPC’s assessment reveals low compliance of President’s directive
According to the NDPC chief, “the level of compliance across MDAs remains relatively low”, prompting the commission to seek stronger engagement with the leadership of the federal civil service to improve awareness and institutional adherence to the law.
Olatunji requested an opportunity to formally brief Permanent Secretaries across all MDAs on the requirements of the legislation and the need for government institutions to strengthen their data protection practices.
The proposed briefing, Olatunji reckons, is expected to bring data protection compliance directly to the attention of senior administrative officials responsible for coordinating government operations and overseeing activities across federal ministries and agencies.
The compliance gap across Federal MDAs has implications for the protection of personal information routinely collected, processed and retained by government institutions through administrative processes and public service delivery platforms. These records contain citizens’ personal information, making effective data governance and privacy safeguards essential to preventing unauthorised access, misuse and potential exposure.
The Nigeria Data Protection Act, signed into law by President Tinubu in 2023, established the country’s statutory framework for protecting personal data and regulating how organisations process information belonging to individuals. The legislation also established the NDPC as Nigeria’s data protection regulator, with responsibility for promoting compliance and overseeing the implementation of the law.
Beyond requesting a briefing for Permanent Secretaries, Olatunji offered the NDPC’s support in building data protection capacity within the federal civil service.
The compliance gap across Federal MDAs has implications for the protection of personal information routinely collected, processed and retained by government institutions through administrative processes and public service delivery platforms. These records contain citizens’ personal information, making effective data governance and privacy safeguards essential to preventing unauthorised access, misuse and potential exposure.
He proposed training for staff of the Office of the Head of the Civil Service of the Federation (OHCSF), alongside the provision of vouchers to facilitate access to the Commission’s Virtual Privacy Academy (VPA).
The proposed initiative, he said, is intended to improve civil servants’ understanding of data protection and privacy practices, equipping them with the knowledge required to handle personal information responsibly in the discharge of their official duties.
Responding, Abel commended the commission for engaging government institutions on data protection, describing the visit as timely and relevant to the responsibilities of the civil service.
He highlighted the importance of data protection and privacy to Nigeria’s economic development, particularly in strengthening investor confidence and attracting international investment.
Strong data protection frameworks are essential to creating an environment in which global investors can operate with confidence, particularly as businesses increasingly depend on digital infrastructure and the secure handling of information, according to Abel.
The Head of the Civil Service also drew attention to emerging privacy challenges associated with the growing adoption of artificial intelligence (AI) across government institutions in Nigeria.
He stressed that data protection and privacy must receive greater attention as public institutions adopt new technologies, pointing to the increasing risks of data breaches and the need for stronger safeguards around information handled by government agencies.
Abel advised the NDPC to intensify its sensitisation and enforcement activities across the civil service to address compliance gaps and ensure that public institutions take their obligations under the 2023 Act seriously.
He also assured Olatunji that the commission would be invited to brief Permanent Secretaries across all MDAs, reaffirming the OHCSF’s readiness to support efforts to make data protection and privacy an integral part of civil service culture.
The proposed engagement provides an opportunity for the NDPC to strengthen its compliance campaign by taking the requirements of the law directly to the administrative leadership of federal institutions.
It also brings renewed attention to the responsibility of government agencies to protect citizens’ personal information as Nigeria expands the use of digital platforms, automated systems and emerging technologies in public administration.
For the NDPC, improving compliance across the federal civil service will be an important step towards ensuring that the protections established under the Nigeria Data Protection Act translate into stronger privacy practices across government institutions.
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